Dark Forest Capital Management LP Acquires Shares of 24,151 Wave Life Sciences Ltd. (NASDAQ:WVE)

Dark Forest Capital Management LP acquired a new stake in Wave Life Sciences Ltd. (NASDAQ:WVE) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 24,151 shares of the company’s stock, valued at approximately $299,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. KBC Group NV bought a new position in Wave Life Sciences in the fourth quarter worth $67,000. Summit Investment Advisors Inc. raised its holdings in Wave Life Sciences by 31.5% in the fourth quarter. Summit Investment Advisors Inc. now owns 9,642 shares of the company’s stock worth $119,000 after purchasing an additional 2,308 shares in the last quarter. Westwood Wealth Management bought a new position in Wave Life Sciences in the fourth quarter worth $124,000. Raymond James Financial Inc. bought a new position in Wave Life Sciences in the fourth quarter worth $157,000. Finally, Victory Capital Management Inc. raised its holdings in Wave Life Sciences by 16.6% in the fourth quarter. Victory Capital Management Inc. now owns 14,546 shares of the company’s stock worth $180,000 after purchasing an additional 2,073 shares in the last quarter. Institutional investors own 89.73% of the company’s stock.

Insider Transactions at Wave Life Sciences

In related news, CEO Paul Bolno sold 169,025 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $9.57, for a total transaction of $1,617,569.25. Following the completion of the sale, the chief executive officer now directly owns 338,351 shares in the company, valued at approximately $3,238,019.07. The trade was a 33.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Christian O. Henry sold 10,500 shares of the company’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $9.77, for a total value of $102,585.00. Following the completion of the sale, the director now owns 16,115 shares of the company’s stock, valued at approximately $157,443.55. The trade was a 39.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 29.10% of the company’s stock.

Wave Life Sciences Stock Up 1.5 %

WVE stock opened at $6.83 on Tuesday. The company’s 50-day simple moving average is $8.40 and its 200-day simple moving average is $11.53. Wave Life Sciences Ltd. has a 52-week low of $4.25 and a 52-week high of $16.74. The firm has a market cap of $1.05 billion, a P/E ratio of -6.15 and a beta of -0.93.

Wave Life Sciences (NASDAQ:WVE) last posted its earnings results on Tuesday, March 4th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.17) by $0.34. Wave Life Sciences had a negative net margin of 66.50% and a negative return on equity of 280.57%. The business had revenue of $83.75 million for the quarter, compared to analyst estimates of $25.60 million. On average, analysts anticipate that Wave Life Sciences Ltd. will post -1.14 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently commented on WVE. Wedbush began coverage on Wave Life Sciences in a research note on Tuesday, April 8th. They issued an “outperform” rating and a $18.00 target price on the stock. Jefferies Financial Group started coverage on Wave Life Sciences in a report on Tuesday, February 25th. They issued a “buy” rating and a $26.00 price objective for the company. HC Wainwright reissued a “buy” rating and issued a $22.00 target price on shares of Wave Life Sciences in a research report on Wednesday, March 26th. Finally, StockNews.com upgraded shares of Wave Life Sciences from a “sell” rating to a “hold” rating in a research note on Saturday, March 8th. Two investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.18.

About Wave Life Sciences

Wave Life Sciences Ltd., a clinical-stage biotechnology company, designs, develops, and commercializes ribonucleic acid (RNA) medicines through PRISM, a discovery and drug development platform. The company's RNA medicines platform, PRISM, combines multiple modalities, chemistry innovation, and deep insights into human genetics to deliver scientific breakthroughs that treat both rare and prevalent disorders.